Location: Pike County, KY | Metro: Pike County, KY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 41524 is set at $980 for the fiscal year 2026. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program in this area. It's important to note that this is not the actual rent that tenants will pay; rather, it's the payment standard used by the Housing Choice Voucher program to determine the subsidy level.
In ZIP 41524, there is currently no specific local rent limit established, meaning the FMR of $980 applies directly without any adjustments. This makes the calculation straightforward for landlords participating in the program. The 10.5% renter share indicates that a significant portion of the population in this area relies on rental housing, suggesting a robust demand for affordable rentals.
Regarding property acquisition costs, the data does not provide a specific percentage for ZIP 41524. However, it's crucial for potential landlords to understand that the acquisition cost, which includes purchasing or building a rental property, should be balanced against the income generated by the Section 8 program. The $980 FMR provides a ceiling for rental charges, so the investment should align with this cap to ensure profitability.
To verify the suitability of a property for Section 8 participation, check that the unit meets all HUD inspection standards known as the Housing Quality Standards (HQS). These standards cover safety, health, and habitability criteria. A property must pass these inspections to qualify for the program. This ensures that the property is ready for occupancy and complies with federal requirements, safeguarding both the tenant and landlord's interests.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.